by sillyana703 » Wed Apr 22, 2009 08:38 pm
my car was declared totaled by my auto insurance company about a month ago, and the car is currently somewhere in their storage place. we have not yet to be able to reach a settlement agreement.
should the insurance company still charging me monthly payment while my totaled car is at their storage?
should the insurance company still charging me monthly payment while my totaled car is at their storage?
Posted: Wed Apr 22, 2009 08:53 pm Post Subject:
Did the insurance co pay you for your car yet? Is the car still registered to under your name? If the car still has your plates on it and is still registered under your name and you have not transfered title to the car to the insurance co. this could make all the difference.
Posted: Wed Apr 22, 2009 10:43 pm Post Subject:
If you own the vehicle and it has tags on it, you are probably required to keep the insurance. Once the total loss is settled you can call the carrier and ask that they back date the removal to the date of the accident.
Posted: Thu Apr 23, 2009 12:59 am Post Subject:
Yes. They offer me a ACV settlement which is about $1300 apart from the Nada value, and they are trying to force me to accept it by not taking my calls or returning my calls.
They using CCC total loss Valuescope to value my car's ACV, which I found many flaws in the program from the report they gave me.
Since I could not agree on the amount they offered. the car still under my name
Posted: Thu Apr 23, 2009 03:07 am Post Subject:
If the car is still in your name and registered by you with the plates still active yes then can make you keep the insurance on the car and keep charging you for the insurance on the car.
Posted: Thu Apr 23, 2009 05:56 am Post Subject:
Once the total loss is settled you can call the carrier and ask that they back date the removal to the date of the accident.
Would the OP get back the premiums that he has paid on the car for the period?
Posted: Thu Apr 23, 2009 10:29 am Post Subject:
Would the OP get back the premiums that he has paid on the car for the period?
If the removal is backdated, yes.Posted: Thu Apr 23, 2009 09:16 pm Post Subject:
Posted: Thu Apr 23, 2009 09:24 pm Post Subject:
Posted: Thu Apr 23, 2009 09:25 pm Post Subject: Things they wont tell you
They won the first round because they took possession of your property before they paid you for it.
It is one of their common ploys. They call it "convenience" - maybe even "concierge" etc.. Now they hold the vehicle ransom and you can''t get them to settle. There''s a big surprise.
What you need to look at are your exposures if you do pull the insurance from the car. (what could you be responsible to pay if your car does damage.) So - What harm can the car do? Could it burst into flames and burn other folks stuff? Have they cut or disconnected the power cables on the battery? If not - call them up and instruct that it be done.
Otherwise hmm let''s see - maybe they can "allow" your vehicle to be stolen. Not bloody likely, but it could happen. Still they'd owe you for the damage that occurred under the policy when it was active.
In most states whether functional or not, whether it has license plates or not - you do not have to insure any vehicle you own if it is not being operated on public highways. Period.
Cancel your policy if you want. They still owe you. If *they* cancel *you* - it shows up on your "permanent record" they told you about in gradeschool and effects the rates you will pay the next insurer.
If you have paid up in advance - get a refund on those unused premiums.
Now to the database they use. It is my experience that you are right, it is often incorrect. It is also my experience that it is incomplete and compromised, additionally it is easily and often used improperly. They like it that way.
Many times the comparable vehicles are NOT comparable and many times the comparable vehicles don't even exist. Demand the report (a requirement of most state laws that they provide it upon your request - free BTW) and call on those comparable vehicles.
Heck - go look at them.
Most states have requirements that the vehicles be within a specific distance from YOU. Say 50 miles - which is a long way to go to look at a car. If that car isn't in that range - it is not a comparable vehicle. Companies have been successfully pursued for using this system of valuation "against" the consumer.
Also, many if not all states require the insurer to pay all sales tax, title and license transfer fees.
Bet you'd never hear any of that from an insurer's employee. LOL.
Use common sense - don't let them use your money against you.
Posted: Thu Apr 23, 2009 09:30 pm Post Subject: Incidentally
My ability to post under the name I previously used "Wade Ebert / Shop Owner" has apparently been blocked by the moderator - real nice.
But again - no surprise.
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